Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1997 |
Head of Institution | Mr Solomon W.Giorgis |
Regions active | |
# Branches | 10 |
Total Portfolio (nat'l) | ETB 50,807,161 |
Total Portfolio (USD) | USD 2,761,258.75 |
Active clients with loans | 33,342 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | AEMFI |
Funders | Terrafina Microfinance, SOS Faim, CIDR, UNCDF |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | ETB 100 - 30,000 | 12 - 30 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men | Credit Educ, Group Mtgs | |||||||
Individual Loan | ETB 10,000 - 120,000 | 12 - 30 | 40% - 60% | 80% - 100% | Any Purpose | Women, Men | Credit Educ, Business Training | |||||||
Youth Loan Product | ETB 5,000 - 30,000 | 12 - 24 | 20% - 40% | 80% - 100% | Business | Women, Men, Specific age group | Group Mtgs, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 16.0%-24.0% annual, Flat | 0 Fees | 0 Ins | None | 5.0%-10.0% upfront | 28.3% - 30.2% | 30.6% - 35.2% | 47 | ||||||||
Individual Loan | 16.0%-20.0% annual, Flat | 0 Fees | 0 Ins | None | 5.0%-10.0% upfront | 29.4% - 30.9% | 34.4% - 36% | 45 | ||||||||
Youth Loan Product | 14.0% annual, Flat | 0 Fees | 0 Ins | None | 5.0% upfront | 25.8% - 25.9% | 27.8% - 27.9% | 50 |
Outstanding portfolio (RWF) | RWF 147,974,210 |
Portfolio (USD) | USD 231,209.70 |
Active Clients with Loans | 825 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 11 |
# Regions for this product | 13 |
Regions Active | Bugesera, Gasabo, Gisagara, Huye, KamonyiKayonza, Kicukiro, Kirehe, Muhanga, Nyanza, Nyarugenge, Ruhango, Rwamagana |
Currency | RWF |
Minimum loan size | RWF 10,000 |
Maximum loan size | 7,500,000 |
Loans less than RWF 500,000 | 20% |
RWF 500,000-1,500,000 | 10% |
RWF 1,500,000-2,500,000 | 10% |
RWF 2,500,000-3,500,000 | 20% |
RWF 3,500,000-4,500,000 | 10% |
Greater than RWF 4,500,000 | 10% |
Shortest loan term | 1.0 month |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 20% |
Between 4 and 6 months | 30% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 10% |
Average grace period | 1.0 month |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 3.00% |
Highest quoted nominal interest | 3.00% |
Reason(s) why interest rate varies | C'est quand la garantie est le salaire qu'on donne le credit ou avance sur salaire ?? 3 pour cent.\r |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Commission | Stationery | |
% of loan amount - min | 2.00% | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 0 | 5,000 | |
Fixed amount - max | 0 | 10,000 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | Yes |
Required for | Some |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | RWF 120,000 | RWF 120,000 | RWF 500,000 | RWF 1,500,000 | RWF 4,600,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2010-08-06 | 2010-04-05 | 2010-09-22 | 2010-11-09 | 2010-09-30 | ||||
Loan Term (Months) | 6.0 months | 12.0 months | 12.0 months | 6.0 months | 1.0 month | ||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | ||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
True Price by Comp | |||||||||
Interest and Fee Component | 102.4% | 58.6% | 67.7% | 69.9% | 48.6% | ||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 0.0% | 10.0% | 12.6% | 13.3% | 5.0% | ||||
Full APR (int fee ins tax dep) | 102.4% | 68.7% | 80.3% | 83.2% | 53.6% | ||||
Transparency Index | 35 | 52 | 45 | 43 | 67 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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